Why Many Believe Fed Rate and Dow Jones Rebound Could Fuel Bitcoin in Long-Term3

Just like common Joes and Jills, politicians, economists, and bigwigs in the upper echelons of society are subject to whims. This was only accentuated on Wednesday, as the world’s most powerful economic body revealed that it would be taking a step in a new direction, pushing gold and stocks much higher. Bitcoin remained unchanged, but many believe that this decision could be a positive catalyst for the crypto asset in the years to come.

During early-October, the U.S. stock market, especially companies listed on the tech-centric Nasdaq, were in for a dramatic shock. In a brief, seemingly innocuous remark, U.S. Federal Reserve (Fed) chairman, Jerome Powell, claimed that the American central bank wasn’t close to discerning that a neutral rate of growth was needed.

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